DDC, a Publicly-Traded Company, Purchases 21 Bitcoin with a Goal of Accumulating 5,000 BTC in Three Years

DDC Enterprise, a company specializing in Asian cuisine, has made headlines by acquiring 21 BTC as part of its strategy to integrate cryptocurrency into its financial reserves.

The transaction, overseen by CEO Norma Chu, involved the conversion of 254,333 Class A ordinary shares into BTC, amounting to an estimated value of $2.28 million.

This decision positions DDC alongside other public corporations that are adopting BTC as a part of their asset management strategies. The company expects to finalize two additional purchases for a total of 79 BTC shortly, aiming to reach a significant milestone of 100 BTC in its portfolio.

In a letter to shareholders last week, Chu revealed ambitions to accumulate up to 500 BTC within six months, with a further goal of acquiring 5,000 BTC over a three-year span.

While many firms that have adopted Bitcoin as a treasury strategy often see share price increases, DDC experienced a decline. Shares fell over 12% during Friday’s trading session, contrasting with a 0.6% dip in the S&P 500 and a 1% decline in the tech-oriented Nasdaq.

Conversely, another company, DigiAsia, witnessed a surge exceeding 90% in its share value after declaring a $100 million BTC treasury initiative earlier this month.